Serentica Signs Long-Term PPA with MRF for 170 MW Hybrid Renewable Project
Mumbai: Serentica Renewables, a leading renewable energy provider in India, has signed a long-term Power Purchase Agreement (PPA) with MRF Limited, India’s largest tyre manufacturer, to supply clean power under the captive power framework. A special purpose vehicle (SPV) has been created for this arrangement, with MRF holding a minority captive stake and Serentica retaining the majority.
The clean energy will be sourced from a new hybrid renewable energy project with an installed capacity of approximately 170 MW, currently under development by Serentica. The project will integrate both solar and wind power to deliver round-the-clock renewable energy to MRF’s manufacturing facilities across India via the Inter-State Transmission System (ISTS) network.
This partnership expands Serentica’s renewable energy solutions for large industrial clients seeking flexible and reliable clean power. The captive model will enable MRF to meet its substantial electricity needs while advancing its sustainability and net-zero goals.
Akshay Hiranandani, CEO of Serentica Renewables, commented, “Our partnership with MRF marks another major step in enabling India’s industrial decarbonization journey. By combining renewable energy with cutting-edge storage and hybrid solutions, we are delivering clean and reliable power to help leading industries like MRF transition to a sustainable future.”
The agreement reinforces Serentica’s commitment to accelerating clean energy adoption in India’s industrial and manufacturing sectors, complementing its growing portfolio of renewable energy projects nationwide.
